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Server Time: 02/25/2024

Bid Retraction

Scenario: Bid Retraction & Bid Retraction Limit enabled

Buyer1 posted a bid in the amount of £26,00.

Buyer2 outbid Buyer1 with a bid in the amount of £31,00.

Note: Proxy Bidding is also enabled.

At this point, Buyer2 has two options:

  • Wait for the Auction to end (participate in a bidding war)
  • Retract Bid (Home -> Members Area -> Buying -> Current Bids)

Click Retract Bid and see the following message:

The final screen will display a message confirming the retraction of the bid:

The auction continues with Buyer1 being the highest bidder

Note: At this point Buyer1 can also retract the bid.